84560_not-searchable
/en/bank-og-finansmarked/statistikker/k3/arkiv
84560
Unchanged total debt growth
statistikk
2012-05-24T10:00:00.000Z
Banking and financial markets
en
k3, The credit indicator C3, total gross debt, foreign debt, debt, credit, total debtFinancial indicators, Banking and financial markets
false

The credit indicator C3, February 2012

Content

Published:

This is an archived release.

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Unchanged total debt growth

The twelve-month growth in total gross debt (C3) was 1.6 per cent to end-February. The twelve-month growth is equal to the previous month.

Total gross debt amounted to NOK 4 773 billion at end-February, up from NOK 4 745 billion at end-January.

Mainland Norway’s gross debt accounted for 88.3 per cent of the total gross debt at end-February. This amounted to NOK 4 216 billion at end-February, up from NOK 4 197 billion the previous month.

The credit indicator C3 by credit sources. Twelve-month growth. Per cent.

Decrease in foreign debt

The general public gross foreign debt, which mainly relates to non-financial enterprises, amounted to NOK 877 billion at end-February. The twelve-month growth decreased from -17.3 per cent to -17.5 per cent during February.

Mainland Norway accounted for 55.4 per cent of the public gross foreign debt, which amounted to NOK 486 billion. The twelve-month growth in mainland Norway’s foreign debt was -16.9 per cent to end-February, down from -16.2 per cent to end-January. The decrease in mainland Norway’s foreign debt stemmed from long-term debt.

Offshore industries accounted for the remainder of the foreign debt, and amounted to NOK 391 billion at end-February. The annual growth increased from -18.6 per cent the previous month to -18.2 per cent to end-February. The increase stemmed from both short and long-term debt.

Increase in domestic gross debt growth

The credit indicator ( C2 ) amounted to NOK 3 896 billion at end-February. The twelve-month growth was 7 per cent to end-February, up from 6.9 per cent the previous month. The debt growth in non-financial enterprises was 6.4 per cent, while the growth in household debt was 7.3 per cent.

Specifications for the credit indicator C3. Twelve-month growth. Per cent
  Aug. 2011 Sep. 2011 Oct. 2011 Nov. 2011 Dec. 2011 Jan. 2012 Feb. 2012
Total gross debt (C3) 7.1 6.7 6.4 5.7 4.0 1.6 1.6
Total gross loan debt, mainland-Norway 5.3 5.2 5.2 4.1 4.6 3.9 3.9
Domestic gross debt (C2)1 6.5 6.7 6.8 6.5 6.7 6.9 7.0
Gross external loan debt 9.4 7.0 5.0 2.7 -5.9 -17.3 -17.5
Gross external loan debt, offshore ind. 28.7 22.9 20.1 23.1 -1.2 -18.6 -18.2
Gross ext. loan debt, mainland-Norway -4.4 -4.8 -6.5 -12.1 -9.7 -16.2 -16.9
1  The growth rates for C2 are in the table presented as they were at the time of the C3 release.

Revisions

The statistics for external loan debt are based on samples, and therefore associated with more uncertainty than the statistics for domestic debt (C2). Foreign debt data are subject to continuous revision. Any major impacts of the revision are presented here.

In connection with the publication of K3 data on 9 March, a comprehensive revision of the foreign debt’s basis of figures was undertaken. The revision relates to the period December 2007-December 2012. The changes apply primarily to internal group debt. The revision has helped temper the volatility of the foreign debt’s growth (see the box below).

For more details concerning sampling, see section 3.3 in About the statistics .

Definitions

The public comprises households, non-financial enterprises and municipalities.

Mainland Norway consists of all domestic production activity except for exploration of crude oil and natural gas, service activities incidental to oil and gas, transport via pipelines and ocean transport.

C3 is an approximate measure of the size of the total gross debt of the public in NOK and foreign exchange. C3 comprises the sum of C2 (the public’s domestic gross debt) and the public’s external loan debt, of which C2 constitutes the largest part. The C3 statistics are published approximately one month later than C2.

It should be noted that the growth rates for the public’s gross external loan debt vary from month to month due to shifting amounts of short-time internal debt by oil companies. In addition, the first-time-published growth rates are often revised at a later date due to improved information.